Funding you earn now, next payment 23:00 UTC−0.0676%/8h= −74.0% APRpaid last 24h −0.267%
Price spread now: Binance against Kraken Futures−0.108%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.657%−$66 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Binance is 0.108% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_CAKEUSD | 2.5486 | 0.0776 | pay 0.0097% / 1h | 7m 02s | $57K | $37K | 10x |
| Short | Binance CAKEUSDT | 2.5459 | 0.0100 | get 0.0050% / 4h | 1h 07m | $18.3M | $37.4M | 75x |
Kraken Futures PF_CAKEUSD
Binance CAKEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$141.89
- Price spread: −0.108% → 0.000%
- −$10.75
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$172.64
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 5 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 5 min ago | 0.20 bp | 10.9 bp −$11 | 30.5 bp −$305 | 119.5 bp −$11.9K | doesn't fit |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
CAKE on 16 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_CAKE_USDC | +0.0022% | 4h | 2.5459 | −0.108% | $7K | $14K | 10x | as long as short |
| Injective CAKE/USDC PERP | +0.0033% | 1h | 2.5440 | −0.182% | $113 | $52K | 5.5x | as long as short |
| Hyperliquid CAKE | +0.0100% | 1h | 2.5498 | +0.045% | $3.2M | $2.8M | 3x | as long as short |
| Aster CAKEUSDT | +0.0100% | 4h | 2.5475 | −0.045% | $2.4M | $87K | 10x | as long as short |
| Binance CAKEUSDTshort | +0.0100% | 4h | 2.5459 | −0.108% | $18.3M | $37.4M | 75x | |
| Bybit CAKEUSDT | +0.0100% | 4h | 2.5454 | −0.127% | $5.3M | $4.0M | 50x | as long as short |
| Gate CAKE_USDT | +0.0100% | 4h | 2.5450 | −0.143% | $890K | $768K | 75x | as long as short |
| MEXC CAKE_USDT | +0.0100% | 4h | 2.5457 | −0.115% | $14.1M | $2.8M | 125x | as long as short |
| KuCoin CAKEUSDTM | +0.0100% | 4h | 2.5463 | −0.092% | $2.5M | $5.7M | 50x | as long as short |
| Bitget CAKEUSDT | +0.0100% | 4h | 2.5479 | −0.029% | $2.7M | $2.8M | 75x | as long as short |
Orderly PERP_CAKE_USDC
Injective CAKE/USDC PERP
Hyperliquid CAKE
Aster CAKEUSDT
Bybit CAKEUSDT
Gate CAKE_USDT
MEXC CAKE_USDT
KuCoin CAKEUSDTM
Bitget CAKEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX CAKE-USDT | +0.0100% | 4h | 2.5457 | −0.115% | — | $3.6M | — | as long as short |
| Variational Omni CAKE | +0.0100% | 4h | 2.5437 | −0.196% | $533K | $492K | — | as long as short |
| ApeX Omni CAKEUSDT | +0.0100% | 1h | 2.5457 | −0.115% | $13K | $701K | 50x | as long as short |
| BloFin CAKE-USDT | +0.0136% | 4h | 2.5458 | −0.111% | $995K | $363K | 75x | as long as short |
| GMX CAKE/USD [WBTC.b-USDC] | L +0.0421% / S −0.0272% | 1h | 2.5470 | −0.066% | $38K | — | 100x | as long as short |
| Kraken Futures PF_CAKEUSDlong | +0.0776% | 1h | 2.5486 | long leg | $57K | $37K | 10x |
BingX CAKE-USDT
Variational Omni CAKE
ApeX Omni CAKEUSDT
BloFin CAKE-USDT
GMX CAKE/USD [WBTC.b-USDC]